When answering this question, the candidate should provide a clear and concise overview of the market understanding they possessed. They should then describe a specific situation where this understanding directly contributed to expanding the customer base. The candidate should explain the actions they took based on their market insights, detailing any strategies or initiatives implemented. It’s important to highlight the impact of their actions on the customer base expansion, such as increased market share or customer acquisition. The candidate should also discuss any challenges faced during the process and how they overcame them. Additionally, they should emphasize the importance of continuous market analysis and adaptation in driving business growth. Finally, the candidate should conclude by summarizing the key takeaways and lessons learned from the experience.